Report: Operational amount of S7 Airlines Blockchain Platform and Alfa Bank exceed over $1 Million

In 2017 Russian airline decided to use blockchain for its ticketing platform. As of now, they have processed transactions of more than $1 million. In July 2017, S7 airline became the first airline to sell a ticket through the bank by connecting with blockchain. The airline used the Ethereum protocol base. The airline claims, this immensely increased the processing rate of payments and reduced the amount of paperwork without compromising safety and security.

According to the airline, payments made on blockchain have increased ten folds in the last six months. S7, TECH LAB of Executive Director, Nikolai Mukhanov said using blockchain technology allows them to safely and privately store the data of different members.

S7 first airline to use blockchain for refueling.

In 2018, S7, in partnership with Alfa bank and Gazpromneft-Aero, the airline aimed to minimize the financial risk and settle accounts quickly. In this process, the airline agrees to a preliminary volume of fuel, and the price for the fuel, this data is used for technical instructions for the driver of the refueling tanker. When the pilot requests a specific volume of oil, the relevant amount on the airline’s account is sent to the airline’s bank, and the bank sends instant confirmation, which makes the refueling start. By using smart card technology, this process only takes 60 seconds. S7 airline has set precedents over precedents when it comes to using blockchain technology.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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